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news.France-based ExonHit Therapeutics, a drug and diagnostic discovery company, has extended its existing drug discovery collaboration with US-based Allergan Sales until December 2011, that includes antibody discovery within the scope of the research activities and encompasses revised commercial terms. Detailed financial terms were not disclosed.
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The collaboration which has been renewed several times and initiated in December 2002 focuses on the identification, development and commercialization of drugs for the treatment of neurodegenerative diseases, pain and ophthalmology.
The scope of the collaboration is expanded to include epitope discovery for the development of antibody therapeutics in ocular disorders. As part of the renewal agreement, Allergan will provide ExonHit with increased quarterly research funding instead of a single payment.
The agreement provides for revised commercial terms. It expands Allergan’s rights when sublicensing compounds discovered in the course of the collaboration with ExonHit. In return, ExonHit will receive from Allergan upfront payments as well as payments linked to developmental milestones and sales achievements. ExonHit will also be paid royalties on future sales.
EHT/AGN 0001, the most advanced compound out of the collaboration, is currently ending Phase I clinical trials for pain indications. EHT/AGN 0002 and other compounds are in preclinical testing for indications in pain, ophthalmology or neurodegenerative diseases.
Loic Maurel, CEO of ExonHit Therapeutics, said: We are very pleased to expand further our successful and longstanding collaboration with Allergan. We believe that combining the capabilities of our two organizations and enlarging both the research and commercial scope will enhance our ability to create value for our shareholders.